The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1887-04-16


receive for such transportation. safe keep
ing or Storage such tolls and charges as
may from time to time be established by
the directors of said railroad company; to
make advances OF money credits FOR
charges made by other transportation lines
u!ofs merchandise or property TO ba trans
ported upon It's own roads or TO be stored
III lis yards, warehuS SEES or elevators 70 such
eN!cM: and OF, nch terms and conditions as
the directors OF said company may from
time to time establish.
See. 6. To obtain and receive by grant,
gift. devise and baGueati1 both real and per-
son:'l property and to have and to hold the
same 1or the purposes and objects of said
company.
Sec. :. To construct said railroad and
maintain the same and to have the right OF
way for the same across, along o:upon amy
o! the water courses. streets, HIGHWAYS
other public places Of said State.
Sec s. 10 cxpropriate property accord
ing to existing and future laws.
S"> 9. To borrow money, to purchase
aud lease property On its own credits for
the purpose OF constructing and maintain
ing said railroad or establishing continuous
and connecting lines as heretofore provided:
and as evidence OF the Indebtedness of said
company for such loans, or the purchase or
teass OF such property to issue its corporate
bonds orpromisSory notes, bearing interest
at such rate perannum as the directors may
elect, and ma e payable AT such times and
places may be deemed most to the at.-
yantacc ct said corporal ion; and for scar
ing the payment OF said bonds or notes, to
| mortgage or pledge its capital stock. it's
corporate FRANCHISES. ana any or all OF ITS
real or PERSONAL property, or both.
ARTICLE ~.
All citations shall be serv ed uIon t he Pres
iacHt, or in his absence upon the Secretary.
Treasurer OF General Attorney Of said cor
poratlon.
ARTICLE V.
See. i. Tho amount ofcapitai stock ofsaid
corporation shall! DO Three Hundred Thou
sand Dollars. consisting OF Three Thousand
Shares of the par value of One Hundred
Dollars each. This amount of capital stock
however, To linn
| cd as the interest OF said company may re-
IUire.
Sec. 2 The slime ana manner Of paying
| subscriptions for stock of this Corporation
shall be determined by the Board of Direc,-
ors; except that no stock Or bonds shall be
! issued by the said Company unless it be for
services rendered, or for money or property
| actually received by or for labor done for
| said company.
| See 8. In case Of Il failure of any sub
scriber to pay the whole or any portion OF
| his subscription for stock at the times and
in the manner fixed by the Directors, the
shares of stock subscribed for and all
payments made thereon shall DO forfeited
to the company without any further action
on the part of the company, but all liability
OF said subscriber for said unpaid subscrip-
| ton shall upon such forfeiture cease.
| Sec. 1. Until such forfeiture no stock
holder shall be held liable for the contracts
and faults of said Company in any further
sum than tho unpaid balance or balances
due TO the Company on shares owned by
him or her.
| ARTICLE VI.
Section !. The corporate powers of this
| Company shall be vested in a Board Of hi
| rectors composed of seven stock holders to
be elected i'll accordance with the wishes
! and by Laws OF the said Company ; and il
such other Off GERS and agents as may from
time to time be appointed by such board.
Directors shall be elected annually. but in
case any such annual is not held at the. time
appointed the Directors in Office shall CON
tinIe therein until others are elected to I'LL
thor places, Upon the death, resignation
tho remaining Directors shall have power
to till the vacancy or vacancies caused
thereby The Directors shall elect one of
their nlnlbc to be President Of said Com
pany (corpOratIonl and another to be Vice
President and may elect from among them
selves or appoint from others out side of tho
Directors, one person to DO Secretary and
another person to he Treasurer OF the said
Company. Said Directors; shall have power
} to make and prescribe such by Laws and
RUies and Negotiations for the government
OF tho said Company as they may deem
advisable. and shall have power to amend.
alter and revoke the samo us they shall see
tit.
Sec. .. The election for Directors shall
be by hallo! and evory s!oci< hotuer shall be
entitled To one vote. in person or by proxy
or attorney, for each share of stock owned
See. >. Three Of tho directors shall con-
stituto quorum for the transact! ion OF
business.
Sec. 4. The Annual Meeting for the cleo
ton of Directors shall be on the ii'St l'nes-
day of december OF each year, and the first
board of directors 81, cted Shall ie super
"r,!ea on tho election of their Successors ON
that date.
ARTICLE VII.
This Corporation may be dissolved 1T any
general meating OF The Stockholders con-
vcned tor thai purpose, with the consent OF
co-iHUrthS of the stock Of the Company
and upon the vote of 1WO-ihiraS Of the
stock represented at said meeting; and il,
case OF such dissolution the affairs and bus
mess of same shall be liTnitatcd hy three
commissioners elected by ballot IL said
meeting.
Thus done. passed and signed on this the
5th day of Marcn, ,SSi, in presence of the
undersigned witnesses and ftotnrieS.
W.! liza \. iElEiiT.
ATTEST;
W. \. POTTS.
l.. &. HUDSON.
JAMES CONVERSE.
ATTEST:
.. l.. PRESCOTT.
A. l.. BABi'inGE.
t -~~ Red tAlL,
SEAL. by Clerk nth Dist. Court and
} .-.-.j In ONci0 Notary Public
A. W. Files.
tliAS. \. kltllT,